In yesterday’s Wall Street session, Hut 8 Corp (NASDAQ:HUT) shares traded at $19.52, up 7.67% from the previous session.
HUT stock price is now 61.07% away from the 50-day moving average and 91.72% away from the 200-day moving average. The market capitalization of the company currently stands at $1.76B.
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With the price target maintained at $12, Craig Hallum recently Upgraded its rating from Hold to Buy for Hut 8 Corp (NASDAQ: HUT). On April 22, 2024, The Benchmark Company recently initiated its ‘Buy’ rating on the stock quoting a target price of $12, while ‘Needham’ rates the stock as ‘Buy’
In other news, Visram Shenif, Chief Financial Officer sold 17,905 shares of the company’s stock on May 09 ’24. The stock was sold for $145,940 at an average price of $8.15. Upon completion of the transaction, the Chief Financial Officer now directly owns 30,865 shares in the company, valued at $0.6 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 12 ’24, Chief Executive Officer Leverton Jaime sold 35,761 shares of the business’s stock. A total of $361,261 was realized by selling the stock at an average price of $10.10. This leaves the insider owning 269,415 shares of the company worth $5.26 million. A total of 11.40% of the company’s stock is owned by insiders.
During the past 12 months, Hut 8 Corp has had a low of $6.18 and a high of $21.10. As of last week, the company has a debt-to-equity ratio of 0.30, a current ratio of 0.31, and a quick ratio of 0.31. The fifty day moving average price for HUT is $12.607 and a two-hundred day moving average price translates $10.339515 for the stock.
The latest earnings results from Hut 8 Corp (NASDAQ: HUT) was released for 2024-03-31. The net profit margin was 177.80% and return on equity was 40.14% for HUT. The company reported revenue of $51.74 million for the quarter, compared to $15.65 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 230.68 percent.
